- The 46MW Nkhotakota Solar Power Plant has reached financial close in Malawi.
- The Phanes Group has raised US 67 million for the project.
- Construction of the first phase is expected to be completed by March 2020.
The 46MW solar plant is being developed by Phanes Group in collaboration with responsAbility Renewable Energy Holding and the Overseas Private Investment Corporation (Opic), the U.S. government’s development finance agency.
Related news: Malawi 20MW Solar PV Tender Announced
Malawi’s energy sector has gone through important sector reform efforts recently, including the unbundling of the national utility, the Electric Supply Company of Malawi (ESCOM) and the establishment of the Electricity Generation Company of Malawi (EGENCO). The restructuring of Malawi’s power market has attracted strong interest from independent power producers (IPP’s) who are encouraged by the energy policy relaxation by the Malawian Government.
Malawi has an installed capacity of 439 MW made up mainly of hydro power (384MW) and solar (55MW). The country has one of the lowest electricity access rates in Africa, only 10.8% of the population has access to electricity. There are around 3.2 million households without power (USAID).
Author: Bryan Groenendaal